Refiner stocks plunge $29B despite Valero's record profits amid fears of shrinking fuel margins.

Valero Energy and other major refiners saw a sharp stock selloff, losing about $29 billion in market value in one day despite Valero reporting its most profitable quarter ever. The drop reflects investor concerns that refining margins will shrink as fuel prices fall faster than crude oil prices, squeezing profits. Political pressure and promises of cheaper gasoline add to margin uncertainty. Upcoming earnings reports from Phillips 66 and Marathon will be closely watched to see if margins hold in the fourth quarter.

Despite the sharp selloff in refiner stocks noted in the news, on Pluang Valero Energy (VLO) is up slightly by 0.31% at USD 388.56 as of Oct 29, 2026 02:51 WIB, trading well below its 52-week high of USD 459.78 but far above its low of USD 161.94. Marathon Petroleum (MPC) shows a stronger 1-day gain of 1.08% at USD 440.67, also below its 52-week peak of USD 484.92. Phillips 66 (PSX) contrasts with a 1.95% rise to USD 273.76, though it remains closer to its 52-week high of USD 297.29 than its low of USD 127.75. This suggests varied investor responses across refiners despite margin concerns.